MBME Group

1. Company Overview & Earnings Context

MBME Group P.J.S.C. is a UAE-based investment holding company focused on investments, the establishment and management of commercial enterprises, industrial ventures and technology-related businesses. The Group qualifies as an investment entity under IFRS and measures its subsidiaries at fair value through profit or loss rather than consolidating them. During H1 2026, MBME reported a net loss as there were no unrealised fair value gains recognised during the period, unlike the significant valuation gains recorded in H1 2025. The Group continued investing in its subsidiaries, including additional capital contributions and the formation of a new cybersecurity joint venture.

2. Financial Performance Snapshot

• Income from Management Services: AED 1.10 Million (+260.8% YoY)

• General & Administrative Expenses: AED 8.86 Million (-25.3% YoY)

• Other Income: AED 22,596 (-96.6% YoY)

• Profit Before Tax: Loss of AED 7.74 Million (vs. Profit of AED 248.74 Million)

• Net Loss: AED 7.74 Million (vs. Net Profit of AED 248.74 Million)

• Earnings Per Share (EPS): Loss of AED 0.003 (vs. EPS of AED 0.086)

Compared with H1 2025:

• Income from management services increased 260.8% to AED 1.10 million.

• General and administrative expenses declined 25.3% to AED 8.86 million.

• Other income declined 96.6% to AED 22,596.

• Profit before tax moved to a loss of AED 7.74 million from a profit of AED 248.74 million.

• Net profit moved to a loss of AED 7.74 million.

• Earnings per share declined from AED 0.086 to a loss of AED 0.003.

3. Operational Highlights & Key Metrics

• Total Assets: AED 6.71 Billion

• Total Equity: AED 6.66 Billion

• Investment Entities: AED 6.67 Billion

• Cash & Cash Equivalents: AED 10.69 Million

• Additional Shareholders' Contribution: AED 5.83 Billion

• Due from Related Parties: AED 15.32 Million

• Share Capital: AED 60.50 Million

• Additional Capital Invested in Subsidiaries: AED 1.20 Million

4. Key Performance Drivers

MBME's H1 2026 results were primarily affected by the absence of the AED 259.6 million unrealised fair value gain that significantly boosted H1 2025 earnings. The Group continued executing its investment strategy by making additional capital contributions to MBME Pay and M Capital Limited, while also establishing Zendata Cyber Defense Security Consultancy L.L.C., in which it holds a 50% equity stake. These strategic investments strengthen MBME's long-term technology and financial services ecosystem despite the weaker reported earnings.

5. Outlook & Forward Guidance

MBME continues to focus on expanding its investment portfolio across financial technology, investment management and technology-related businesses. During the period, the Group strengthened its subsidiaries through additional capital injections and expanded into cybersecurity through a strategic partnership. As an investment entity, future earnings will continue to depend significantly on the valuation performance of its investment portfolio alongside the operating growth of its underlying businesses.

6. Investor Takeaway

MBME reported a loss in H1 2026 largely due to the absence of the exceptional fair value gains recognised in the prior-year period rather than deterioration in its underlying investment portfolio. Backed by AED 6.71 billion in assets, a strong equity base and continued investments across fintech, payments, investment management and cybersecurity, the Group remains focused on building long-term shareholder value through its diversified investment platform.